On Tuesday, Shares of American Eagle Outfitters (NYSE:AEO), lost -0.33% to $18.29.
American Eagle Outfitters stated EPS of $0.17 for the second quarter ended August 1, 2015, a noteworthy enhance from EPS of $0.03 for the comparable quarter last year, and above EPS guidance of $0.11 to $0.14. The EPS figures refer to diluted earnings per share.
Second Quarter 2015 Results
- Total net revenue raised 12% to a record $797 million from $711 million last year.
- Merged comparable sales raised 11%, contrast to a 7% decrease last year.
- Gross profit raised 20% to $285 million and the gross margin rate rose 230 basis points to 35.7%. Buying, occupancy and warehousing costs leveraged 130 basis points, primarily due to strong sales, combined with our fleet rationalization. Reduced markdowns drove another 100 basis points of margin expansion.
- Selling, general and administrative expense of $196 million raised 3% from $190 million last year. As a rate to revenue, SG&A leveraged 220 basis points to 24.5% contrast to 26.7% last year. Expense reduction initiatives partially offset enhances in incentive and variable selling expense, driven by strong sales performance.
- Operating income raised to $53 million from $12 million last year, and the operating margin expanded 500 basis points to 6.7% as a rate to revenue.
- Other expense of $2.2 million is primarily comprised of currency losses related to cash held in Canadian dollars.
- The tax rate of 34.7% comprises a benefit of about $2.5 million, primarily due to an income tax settlement.
- EPS of $0.17 raised significantly from EPS of $0.03 last year.
American Eagle Outfitters, Inc. operates as a retailer of apparel and accessories in the United States and internationally. The company’s stores offers denims, pants, shorts, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25 year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for women the aerie brand name.
Finally, Western Refining, Inc. (NYSE:WNR), ended its last trade with -0.57% loss, and closed at $49.03.
Western Refining stated results for its second quarter ending June 30, 2015. Net income attributable to Western, not taking into account special items, was $138 million, or $1.44 per diluted share. This compares to second quarter 2014 net income, not taking into account special items, of $128.8 million, or $1.29 per diluted share. Counting special items, the Company recorded second quarter 2015 net income attributable to Western of $133.9 million, or $1.40 per diluted share, as contrast to net income attributable to Western of $156.7 million, or $1.56 per diluted share for the second quarter of 2014. A reconciliation of stated earnings and description of special items can be found in the accompanying financial tables.
Jeff Stevens, Western’s President and Chief Executive Officer, said, “This was another outstanding quarter for all of our business segments. Our refineries ran at historically high throughput rates in a strong margin environment and expenses were in line with expectations. In our Retail business, we saw an enhance in same store fuel volumes, fuel margins, and merchandise sales. NTI and WNRL also performed well in the quarter which contributed to our solid financial results.”
Western paid a dividend of $0.34 per share of common stock to shareholders in the second quarter. In July, Western’s Board of Directors approved a $0.34 per share dividend for the third quarter. Counting the third quarter dividend, Western will have returned about $118 million to shareholders through dividends and share repurchases to date in 2015.
Western Refining, Inc. operates as an independent crude oil refiner and marketer of refined products. The company operates in four segments: Refining, NTI, WNRL, and Retail.
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